The recent Initial Coin Offering (ICO) mania, that saw over $1.2 billion raised in cryptocurrency in the first half of 2017, is great in the sense that it reflects how well blockchain technology is being used to improve our everyday life.
However, most projects sell a token during their ICO and use it as the only currency on their platform. This narrows the audience as it makes it hard for less tech-savvy people to use their platforms. Moreover, the constant need to exchange tokens can get pretty confusing and frustrating.
BCShop.io, a marketplace for the purchase of digital goods and services on smart contracts, has a different approach. Payments are done in Ether, so the need for various tokens isn’t there. This way, the platform allows novice cryptocurrency users to transact using the marketplace.
BCShop.io, a mart-contract and Ethereum blockchain-based marketplace
Just like any other marketplace, BCShop.io allows vendors to sell goods and services to customers who can willingly purchase these goods and services using Ether. However, BCShop.io comes with a few advantages that put it ahead of the competition.
All data concerning products and services is stored as a smart contract on the Ethereum blockchain, allowing for the automatization of payment processes, and for deals to be processed in an automated, transparent and reliable way. Since data is stored on the immutable Ethereum blockchain, payment and delivery data cannot be forged. Essentially, every product sold on BCShop.io is, in a way, a smart contract that allows buyers and vendors to interact directly.
Furthermore, it features a user-friendly interface that allows for the purchasing of digital products in only a few clicks, as it uses software based on one of the most popular Ethereum wallets, MyEtherWallet.
On average, vendors have to deal with 3.5% fees on payments received for selling their products and services. In some cases, these can go as high as 5%-10%, crushing their profit margins. On BCShop.io, fees won’t exceed 2%, and major partners can get them as low as 0.5%. Plus, the marketplace has no hidden fees.
Given its nature, using BCSHop.io requires no special software, and no initial investment on a vendor’s behalf. This, along with the decentralized data storage provided, will help it become a popular marketplace.
Supporting the Project
BCShop.io allows users to contribute to the project in its preTGE and TGE stage, in which it will distribute BCS tokens users can use to reserve and exchange BCB tokens, which will be issued per BCS token owners’ requests. Both tokens will be tradeable, and BCB tokens can be used to give users 100% discounts on products and services in BCShop.io.
No more than 100 contributors will initially be allowed to participate, using Ethereum. A minimum contribution of 20 Ether tokens is required during the preTGE stage.
Users are advised to thoroughly read the project’s whitepaper. To keep up with BCShop.io, make sure you follow it on Twitter and Medium, or join the discussion on Telegram.